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Admissions Tip: Volunteer Experience

It’s the time of year when MBA applicants aiming for fall 2018 intake are beginning to think about the admissions process, which is why we wanted to focus this week’s admissions tip on one element of the application that candidates often underestimate: volunteer experience.

In order to understand why this category is important, candidates should keep in mind that the adcom is responsible for crafting a dynamic class each year. The aim is to admit individuals who will support a vibrant campus community and step into leadership positions. In other words, as admissions officers consider each applicant, they ask themselves “what’s in it for our school?” An applicant who has previously demonstrated a talent for writing, for example, by contributing to a nonprofit’s newsletter, will really catch the adcom’s attention if she also expresses her intent to contribute to a specific publication on campus.

Schools are also interested in admitting well-rounded candidates, not simply candidates that have performed well at work and in their academics, but have expanded their involvement in other activities. They seek students with good values and those who volunteer in their community demonstrate their good citizenship.

Volunteering is of course a great way to expand one’s extracurricular involvement. While, many applicants participate in the occasional fundraising walk or an annual corporate outreach day; those who demonstrate ongoing involvement in one cause or organization will be of special interest to the admissions committee, especially if it is related to their current or future career. A candidate who has contributed over a longer period is likely to have developed his or her responsibilities beyond ladling soup or stuffing envelopes. What’s more, this can be a particularly important opportunity for applicants who are currently living and working outside of their home countries; for example, an Indian applicant who works and volunteers in Africa will stand out as being particularly engaged and well adapted to his or her foreign environment.

It is also important to be involved in something about which you are passionate. Passion will help in a couple of ways, it will mean that you will commit more time to the endeavor, it will also mean that you will be more likely to take on a leadership role. Thus, if you are passionate about animal welfare then volunteering at an animal shelter, or lobbying in Washington, DC to help shape future legislation, will be far more interesting to the adcom than if you intermittently volunteer at a soup kitchen.

Candidates who are older or younger than the average applicant should recognize that their extracurricular involvement is particularly important. A younger applicant who lacks leadership responsibilities at work might demonstrate his talent for motivating others outside of the office. Meanwhile, older applicants can use their extracurricular involvement to reassure the adcom that, despite family responsibilities or distance in age from one’s classmates, the broader life of the community remains important to them.

The majority of candidates who apply to top schools are admissible, they have good work experience and strong academic numbers. Oftentimes it is what they do during their volunteer experiences and extra-curricular activities that help separate strong applicants. If you feel this aspect of your candidacy is relatively weak, then increase your involvement now. While it is never too late, you should also recognize that the adcom will be skeptical of a candidate who has no tradition for volunteering, but starts 6 months before the application is due. Remember that it is important that your volunteer work appears to be genuine.

Lastly, applicants will have a much easier time writing their application essays if they have a variety of experiences from which to draw. While applicants can certainly respond to most essay prompts by reflecting on their professional experiences, relying exclusively on one’s work is a mistake. With each essay, the applicant should aim to share a different side of him or herself—submitting five essays about electrical engineering or investment banking is not the most effective way to do this.

We hope that this sheds some light on the opportunities and value that activities outside of work provide with respect to one’s b-school candidacy and applications.

This article has been edited and republished with permissions from Clear Admit.

Want To Become A Budget Analyst? How An MBA Can Help

Managing a budget can sometimes be a difficult task—even when it comes to your personal finances. It’s no surprise, then, that large companies require skilled individuals to analyze, manage and make important decisions based on finances. That’s where a budget analyst comes in.

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Expand Your Career Opportunities With The Cal State MBA

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Experienced managers with an eye for sustainability should take note of the Saturday Master of Business Administration (SMBA) degree at the California State University, Long Beach (CSULB) business school. Focusing on sustainable practices for both domestic and international businesses, the CSULB SMBA gives management students a more direct path towards future business success.

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SPU Makes ‘U.S. News’ Best National University List

For the first time, Seattle Pacific University made the 2017 U.S. News and World Report’s Best National Universities list. SPU is the only private university in the Pacific Northwest to appear on the list, joining the University of Washington and Washington State University as the only three universities in Washington state to rank. Continue reading…

7 Continents, 7 Marathons, 1 Student at Georgetown McDonough

Finding balance in your life during an MBA program can be a challenge, which makes time management is one of the most important skills for MBA candidates and students to develop. It’s difficult enough to attend classes and complete assignments, and most students also juggle club involvement, competitions, family, and leisure activities. And then there are students like Nick Stukel, an MD/MBA ’18 student at Georgetown University’s McDonough School of Business. Continue reading…

Want To Be A Hospital Administrator? An MBA Can Help.

The idea of a hospital may be especially foreboding for some, but for many others it represents endless opportunity, along with a true chance to help those in need. And while a hospital typically is seen as a home to medical personnel such as doctors and nurses, such facilities simply couldn’t run without the help of someone with the skills to organize, manage and efficiently operate such a complex and interdisciplinary workplace.
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Imperial MBA Exchange Program Offers Unique Interview Opportunities

There’s no doubt that top tier MBA programs are about more than just coursework, they’re also about the experience. As part of that, Imperial College Business School At Imperial College London offers its MBA students a chance to participate in the Imperial MBA exchange program. Most recently, Teodor Hlihor (’17 MBA) had the opportunity to study at the University of St. Gallen in Switzerland. During that experience, he was able to interview Stefan Loacker, the previous CEO of Helvetia Insurance. Continue reading…

MBA Admissions Tip: Going Beyond School Websites

As the 2016-17 MBA application season draws to a close, we now turn our attention towards admissions advice for those targeting 2018 entrance to business school. To celebrate this move, we are hosting a series of 10 chats that will be hosted on alternating Wednesdays at 10 a.m., beginning this Wednesday, May 10th. In the meantime, for today’s admissions tip, we focus on how to reach out to the b-schools in which you are interested beyond just visiting the school websites.

Communicating with b-school insiders can be beneficial for a number of reasons: In addition to researching a business school and your potential fit, you’ll also generate material for your essays, demonstrate your interest in the program, and perhaps even make an ally or two. In your efforts to go beyond the schools’ websites and promotional materials, we recommend reaching out to individuals in a few key groups:

Current Students

People who are currently enrolled in a given program can obviously provide the clearest picture of the present state of the school community. They are often more capable of evoking their school’s overall culture than brochures put out by the admissions offices and can describe to prospective students the ins and outs of academic and extracurricular options. In addition to reaching out to friends and acquaintances who are studying at a given school, it’s also wise to get in touch with the leaders of clubs and programs in which you are interested (their contact information is generally available through the website). This will help you to understand the impact you could make while on campus and provide a sounding board for the ideas you plan to share with a certain student group or organization.

Alumni

While students offer a great view of the program itself, a school’s alumni can often provide the best perspective on just how far an MBA from a given program can get you in a certain field. Meeting with alumni working in your target post-MBA industry (tracking them down either through your own network or school-sponsored events) may help you anticipate the program’s strengths and weaknesses in setting you on the right professional course. You might also gain some valuable insight that will help you to refine your career goals and better understand what short-term position would best prepare you for your long-term plan.

Faculty

The professors at business school tend to be a bit less accessible than students and alumni, but if you’ve identified someone whose research interests match yours or sat in on a class that you found particularly intriguing, there’s no harm in sending a note to let the faculty member know that you find his or her work appealing and would like to speak if possible. The individuals responsible for designing and teaching the curriculum can offer great insight into the specific skills and lessons you would learn from one class to the next and help you to refine your understanding of the ways that an MBA would bridge the gap between your current skills and those you will need to achieve your goals.

Aspirants to the Class of 2020 should consider each of these options in the months ahead. Not only are many individuals quite pleased to discuss their experiences with prospective students, admissions committees also like thoroughly informed applicants (of course in all cases, patience and manners are of great importance).

For more tailored guidance on what sort of programs you might consider, please fill out this form for a free initial consultation with our partners over at Veritas Prep. As experts in the field for more than a decade, Veritas Prep is uniquely equipped to help you become a ‘Clear Admit’ at your dream school. Also, consider reading the Clear Admit School Guides. If you’re just getting started, save time navigating schools’ websites by downloading our free School Snapshots for objective overviews of top programs.

This article has been edited and republished with permissions from Clear Admit.

New Book From MIT Professor Explores The Evolution Of Finance

MIT Sloan School of Management professor Andrew Lo has revealed his newest book, which uses principles from evolutionary biology to illustrate how financial markets behave like living organisms.

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Friday News & Notes: Stanford Finance Jobs, Another Airline Fiasco and More

Good morning and happy Friday!

Here are a few stories you may have missed from the week that was …

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Saïd Business School: The Global Challenge

On Monday, May 1, the finale of The Global Challenge was held at the Saïd Business School at the University of Oxford. Six finalist teams from around the globe competed to take home a prize of £3,000 cash as well as tickets to the Skoll World Forum 2018 and Emerge 2017, with a travel allowance included. Continue reading…

St. Thomas Is Transforming Healthcare Business Education With The MCTM

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At first glance, a career in medicine—whether in a laboratory, clinic, or hospital—and a career in business appear to have little in common. However, that’s not the case. According to the most recent 2016 mba.com Prospective Students Survey completed by the Graduate Management Admission Council, 8 percent of MBAs ended up with a job in Healthcare/Pharmaceuticals.

There’s just one problem with that. An MBA is a large commitment, and the cost can be too high for many potential candidates who have already gone through years of schooling to earn their MD or Ph.D. For others, the potential ROI of an MBA isn’t worth the time required to be spent outside of work.

The good news is there’s another option available from the University of St. Thomas Cameron School of Business: a Master’s in Clinical Translation Management (MCTM).

Master in Clinical Translation Management (MCTM)

“The MCTM program offered at the University of St. Thomas is truly one-of-a-kind,” said Dr. Beena George, Dean of the University of St. Thomas’ Cameron School of Business. “It is a technology commercialization program focused on the life sciences and is managed by a business school. Students get deep exposure to all facets of the clinical translation process because of our close collaboration with Houston Methodist Research Institute.”

What Is Clinical Translation Management?

So, what exactly is a Master’s in Clinical Translation Management? First, you need to understand clinical translation, which is the process of turning basic discoveries that occur in laboratories into usable drugs, medical devices, or clinical processes.

“This commercialization process is highly regulated and capital-intensive, and requires business expertise to achieve the desired goals,” explained Dr. George. “As an example, drug development can cost upwards of one billion dollars and take over ten years to reach the market, representing staggering investments in capital and human resources. Many of these development projects fail along the way, and pharmaceutical companies are raising the price tags in return for taking on higher risks. To avoid such failures and bring therapies and products to clinical use faster, a combination of scientific knowledge and business expertise is necessary.”

It’s a quickly growing field that requires a deep knowledge of biotechnology as well as business and regulatory savviness, all necessary to assess a product’s commercial potential and to navigate the pathway of clinical translation. “The MCTM program endows students with a solid understanding of the unmet needs of the biotech sector,” said Dr. George.

Where do Clinical Translation Manager’s Work?

There are many different types of organizations looking for people to fill their clinical translation needs. Examples include:

• Pharmaceutical and biomedical device firms such as GE Healthcare, Johnson & Johnson Innovation, and Medtronic, Inc.
• Technology transfer offices at research organizations
• Life sciences management consulting firms

As for the reason behind the program’s existence, “It responds to a global need to make the translational process faster and more efficient,” explained Dr. George. “It also addresses a regional need. Much research in the life sciences area is done at and near the Texas Medical Center and in Houston. The business/commercialization talent required to support the development of a life sciences industry in this region would contribute positively to the economy.”

Who Should Apply for the MCTM Program?

The MCTM Program is ideal for anyone currently working in a medical, research, or science position. “It’s for the individual who is committed to bringing therapies and products to markets faster and passionate about addressing the inefficiencies in the process,” Dr. George said.

And while undergraduate students aren’t barred from attending, admissions decisions are based on your work history, meaning that those who would receive the greatest benefit are those who already have professional experience. In particular, the MCTM Program would be highly beneficial to individuals who already have a post-doctorate degree—either an MD or Ph.D.

If you’re in healthcare and looking to expand your business acumen, then this is the program for you. “It allows students to bridge the worlds of science and healthcare in a way that is innovative and creative, allowing graduates to explore a range of careers spanning the management of clinical trials to various business roles,” Dr. George explained.

MCTM Program Outline

One of the greatest benefits of the MCTM Program is the fact that it’s completely online with the exception of 4 weeks of residency.

“Technology today enables educators to develop and deliver interactive and adaptive learning programs that maximize the learning outcomes for each student,” described Dr. George. “At the same time, it allows a level of convenience and flexibility that maximizes access for students anywhere.”

And the residency complements the online coursework, allowing students to reap the benefits of exposure to experts and technology in Houston and locations in Europe.

As for the coursework, it’s divided into easily digestible categories:

• Clinical Translation Process
• Marketing & Management
• Financial Management
• Ethical & Regulatory Issues

And at the end of the program, every student completes a capstone project that requires a completed business plan to shepherd research discoveries from the lab to clinical care. Some of these capstone projects have included: liver transplant assessment makers, wearable brain stimulators, and a bone regeneration device.

“Working under the guidance of faculty advisors with regulatory and business expertise, students will work on translational projects to develop the regulatory and commercialization strategies for the projects,” said Dr. George. “The program brings together coursework, practical experience, and opportunities to connect with the right networks to offer a learning experience that few programs would be able to match.”

MCTM Medical Partnerships

Many of the unique learning experiences available from MCTM are because of the Program’s partnerships with the Houston Methodist Research Institute as well as healthcare and biotech organizations in Europe. It’s through these partnerships that students have the opportunity to:

• Access a global and collaborative network of faculty who are experts in their fields.
• Attend seminars and didactic programs in areas of clinical and translational research.
• Explore translational research strategies and infrastructure that move medical research from concept to cure.

“Our partnership with the Houston Methodist Research Institute gives our students the opportunity to hear from the most respected experts in the field,” explained Dr. George. “It also gives our students access to networks and resources that deepen their understanding of the field and helps build their knowledge and skills to enter this area of business. We also offer students exposure to the European life sciences industry by leveraging out connections with an exchange partner in France.”

Apply Now

If you’re interested in the exciting and growing field of Clinical Translation Management, the Cameron Business School is now accepting applications for their fall class. You can find the basic admission requirements are on the University of St. Thomas website. Your application will be evaluated as whole, with an interview allowing the school to judge your interest and commitment.

Becoming A Pharmaceutical Brand Manager

The job of a brand manager is to create a lasting impression among their consumers and to improve their company’s product sales and market shares. These individuals monitor market trends and oversee advertising and marketing activities to ensure the right message is delivered. It’s a fast growing career field with the projected percent change in employment from 2014 to 2024 at 9 percent according to the Bureau of Labor Statistics.

For consumer goods companies and retailers such as Procter & Gamble, a Brand Manager position makes sense—it’s all about the product, placement, price and promotion—but what about the healthcare industry, in particular pharmaceuticals? Is a job as a Pharmaceutical Brand Manager unique and is it a good choice for MBA candidates? Continue reading…

Friday Morning News & Notes: LBS Wins Again, Traffic Tax And The Kelley Online MBA

Good morning and happy Friday!

Here are a few stories you may have missed from the week that was …

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Online MBA

Online MBA Program Structure

Delivered online by American University’s Kogod School of Business, MBA@American takes a collaborative approach to prepare tomorrow’s business leaders. Through a blend of live online classes, in-person learning experiences, and engaging assignments, students develop the critical skills to solve complex business. Students must earn 48 credits to complete the course, which typically takes 24 months (however students may also earn the degree in a 12,15 or 18-month track. American Kogod Online MBA students can enroll in one of four different start dates during the year.

American University’s Kogod School of Business is accredited by The Association to Advance Collegiate Schools of Business (AACSB International). AACSB accreditation represents the highest standard of achievement for business schools worldwide.

Curriculum

Courses and coursework are authored by the same renowned Kogod faculty who teach on campus, and students are held to the same admissions and academic standards as their on-campus counterparts.

In addition to online courses and assignments, MBA@American students attend in-person immersion experiences known as Business in the Capital. These outings see students come together with classmates and faculty for hands-on learning both on campus at American University and in major business centers around the world.

Concentrations Available:

• Marketing
• Finance
• Cybersecurity
• Business Analytics
• Consulting
• Legal Studies

Rankings:

#12 for MBA in General Management and #7 for MBA in marketing from US News and World Report.

Class Profile at the American Kogod Online MBA

About 48  percent of the most recent class are of minority status and roughly 48 percent of enrolled students are women. 7% were military members.

Tuition, Scholarships, and Financial Aid at the American Kogod Online MBA

Students in the American University Online MBA program at the Kogod School of Business are charged per credit hour, with a rate of $1,812  per credit. This brings the total cost of the program to $86,976, which is the same for both in-state and out-of-state students. Students must also participate in two different immersion programs in order to complete the program in which fees will vary. Extemporaneous non-tuition fees, such as books, room, board, and loan fees may also vary.

Admissions

No standardized test scores or minimum professional work experience is required to apply to the program. However, applicants to the MBA@American program must have an accredited Bachelor’s degree and submit a résumé, two letters of recommendation, an application with a fee of $100 and two essays.

The first essay should cover personal achievements while the second explores prior experience and how it prepares applicants for the MBA@American degree.

Internationally born non-native English-speaking applicants must submit a TOEFL, IELTS, or PTE score. However, applicants that were born in or studied in a native English-speaking country are eligible for an “English Language Proficiency Waiver.” Applications to the program are admitted on a rolling basis.

American Kogod Online MBA April 2022 Start Date Deadlines

American Kogod Online MBA FAQ’s

How has the university coped with the pandemic?

Classes and events are primarily online to keep students and staff safe.

What is the extra Analytics Certificate offered?

This can be achieved for no extra cost, students must choose the following three electives: Business Insights through Analytics, Predictive Analytics, Business Intelligence (or Database and Big Data).

Do online MBA students have access to many of the in-person events that on-campus students do?

Yes, however, most events are now virtual as well due to the current pandemic.

Goizueta Leadership Initiatives Get $3.5 Million Thanks to Delta

Leadership development is one of the key skills emphasized in many MBA programs. In fact, Forbes and the U.S. News & World Report mention leadership as one of the top reasons to earn an MBA.

The importance of leadership training is particularly evident in Bloomberg’s 2016 Job Skills Report. Each year, Bloomberg asks 1,251 job recruiters and 547 companies about the skills they want but can’t find. In all industries, leadership skills were found to be less common, but highly desired in candidates.

Emory University’s Goizueta Business School is preparing its graduates for the demands of their next positions by placing an emphasis on its leadership initiatives, which just received a huge boost thanks to a $3.5 million gift from the Atlanta-based Delta Air Lines Foundation. Continue reading…

How To Become A Financial Director After Earning An MBA

The finance industry is among the most popular destinations for MBAs to seek employment following graduation—finance and accounting make up 22 percent of all MBA jobs and more than 84 percent of finance and accounting firms planned on hiring MBA graduates in 2016. Continue reading…

The Best Part-Time New York City MBA Programs

Not everyone can afford to quit their job to go back to school full time for an MBA. Thankfully, you don’t have to. If you live in New York City, there are over half a dozen part-time MBA programs for you to choose from, but with such a large list it can be difficult to choose the best program for you.

That’s why we’ve outlined the best part-time New York City MBA programs to help you out. Each of these programs offers something that helps it stand out from the rest. Continue reading…